Ukraine, in collaboration with the International Monetary Fund, is actively working on creating a new credit program that will address the modern challenges faced by the country. According to the head of the National Bank, Andriy Pyshny, an intensive negotiation process is currently underway regarding the main framework and priorities of the future program.
This is reported by Business • Media
The need to revise cooperation terms with the IMF
The current IMF program for Ukraine, designed for 2023-2027, provides for the allocation of $15.6 billion from the fund and about $150 billion in support from partners. A significant portion of this program was aimed at the post-war recovery of the country. However, due to the escalation of hostilities and increased attacks on civilian infrastructure, there is a need for an updated approach to financial support.
“The actions of the Russians do not indicate a desire to end the war. Ukraine, its civilian infrastructure, and its population are increasingly and intensively subjected to shelling. As a result, the format of the current program no longer fully meets today’s needs,” explained the head of the NBU.
Government plans for future financial support
Prime Minister Yulia Svyrydenko also emphasized the need for a new credit program for Ukraine in July. According to her, if the war continues into next year, the country is counting on initiating new cooperation with the IMF to ensure stability and support the economy in emergency conditions.
The ongoing negotiations aim to adapt financial mechanisms to the realities of wartime so that Ukraine can effectively respond to security and economic challenges.